Ftcash introduces mPoS solutions for auto service centers

PUNE: Financial technology firm ftcash has introduced an mPoS service for small and medium automobile service centers. This will enable over 500 service centers across the company receive payments digitally, needing just a bank account and a feature phone.

Vaibhav Lodha, Co-founder, ftcash said, "Following the demonetisation drive in November last year, there has been a 40% month-on-month growth in demand for facilitating cashless payments from car service centers. Most small and medium service centers face problems like high rental charges of stand-alone PoS devices and the lack of alternate digital payment tools. On the other hand, customers want a quick, easy, and preferably mobile-based method of payment. ftcash’s payment solution solves significant problems for both participants eliminating the need for the customer to make a physical transaction and enabling the merchant to receive timely payments."

ftcash will enable service centers to create digital invoices and send it to customers through an email and/or SMS which would include a payment link with the prefilled values of invoice number and amount.

The customer can then make the payment through credit/debit cards, digital wallets, UPI or net banking without having to visit the outlet. Once the customer makes the payment, the service center and the service advisor get a confirmation, following which the car is delivered to the customer.

Set up in Mumbai in 2015, ftcash is focused on empowering micro-merchants and small businesses to enable convenient digital payments and loans. So far, it has empowered over 5,000 small businesses across India.